Small Business Plan Contest

The Office of Business Inclusion and Advancement is devoted to promoting the growth of small businesses in Winston-Salem. Budding entrepreneurs approach the department weekly for assistance in writing business plans and the steps involved in starting a business.

In an effort to broaden our reach, the department will host its fourth Business Plan Contest. The informational kick-off meeting will be held at 6:00 p.m., February 20, in the City Hall Building Committee Room, Suite 239, at 101 North Main Street. If you could not make it, the updated information below reflects what was covered. Download meeting agenda [pdf/2p].

Each of the two winners will receive:

Business Department staff is happy to provide technical assistance and feedback to participants at any point.

To be eligible for the contest, submissions must be for for-profit micro-businesses (5 employees or less) and be located within the NRSA (Neighborhood Revitalization Strategy Area). This area has been identified by the City of Winston-Salem as being prime for needed development and investment.

Lastly, the proposed business must create low- to moderate-income jobs and/or provide benefit to the low-to moderate-income community.

Timeline for the contest

Tuesday, February 20- Informational kick-off meeting.

March 6 - Business Proposals due (2-page maximum)

Mail, e-mail, fax, or deliver to Office of Business Inclusion & Advancement. Only typed documents accepted.

Submissions will be reviewed and the most viable business plans will move to the final round

Staff will be available for technical assistance throughout the contest

May 15 - Complete business plans are due from finalists for evaluation by the Small Business Loan Review Committee

Winner of the contest will be announced early July

Entrepreneurs that do not win will still receive business plan critiques and have the opportunity to apply to the Small Business Loan Program. Staff will also be happy to continue providing technical assistance.

Business Proposal Format Instructions

Limited to 2 single-spaced pages and due March 16, 2018.

While a complete business plan contains detailed information on the topics below, the purpose of the Business Proposal is to capture the interest of the reader and cover the highlights of your proposed business concept.

Your Business Proposal should cover the following highlights of your concept:

Business Idea - Describe your business concept clearly and concisely

Competitive Advantage - Describe how your produce or service differs from the competition

Team Members - Describe the job roles of key members of your business team

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